Taxes, Sales - As enacted, makes revisions to the "Border Region Retail Tourism Development District Act" and the "Regional Retail Tourism Development District Act." - Amends TCA Title 7, Chapter 40 and Title 7, Chapter 41.

This enacted bill updates Tennessee laws governing retail tourism development districts to clarify how financial incentives are calculated and distributed. It restricts the definition of "cost" for tax credits by excluding management fees, overhead expenses, and payments to affiliated entities, ensuring that only direct project costs are eligible. Additionally, the law redefines "direct or indirect assistance" to specifically include rent discounts tied to leases signed before July 1, 2022, while excluding future discounts or those related to lease terminations. These changes apply to all cost reimbursements submitted on or after July 1, 2011, and directly impact businesses and property owners within designated retail tourism areas.